Paul Krugman has a great column today on the increasingly pro-Democratic tilt of corporate money, and the possible threats that poses towards progressives. As per usual, money follows power. But not just because it likes the view from behind, but because it likes to change the direction of the march. You already saw it in the Senate, where the hedge funds were able to buy of Chuck Schumer and a sufficient number of associated Democrats and kill a policy change that would've forced their income to be taxed like any other income, rather than being advantaged as capital gains*. The more money Democrats get from business, the more they'll be reliant on business's support to retain, and even expand, their majority. And the more they're reliant on business's support to retain and expand their majority, the less their majority is worth, and the less it'll be able to do.
*There are recent rumblings that Schumer is developing a larger tax bill that would include the change to hedge fund income, but also roll in a bunch more revenue-raising measures. I'll believe it when I not only see the bill, but when I see the bill and it's viable legislation.
